BofA to Pay $16.65 Billion to End U.S. Mortgage Probes
The settlement, which includes $7 billion in consumer relief and a $5 billion penalty, is the harshest penalty yet related to the 2008 financial crisis.
BofA Q2 Earnings Tumble on $4 Billion Expense for Litigation
Bank of America spent $4 billion in the second quarter to cover litigation costs, including a mortgage settlement with American International Group.
JPMorgan, Goldman Beat Estimates: Q2 Earnings
Bond trading revenue fell at both banks, though less than expected, but CEO Jamie Dimon's health issues overshadowed JPMorgan's results.
AIG Promotes Peter Hancock to CEO
Hancock, head of property-casualty, will replace Benmosche Sept. 1.
Bank of America Fighting to Keep Dividend Hike After $4 Billion Blunder
Bank of America's note valuation error is "a step backwards for them," says one institutional investor, and "raises credibility issues."
BofA Halts Buybacks, Dividend Increase After Error; Stock Dives
Bank of America made a mistake in its stress-test report to the Federal Reserve; the stock took a 5.2% intraday slide.